19 March 2019

The National Trading Standards Estate Agency Team (NTSEAT) has published guidance on referral fees received by estate agents across the UK, with the aim of making previously hidden fees open and transparent to consumers.
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Friday 15 February 2019

A fantastic event, filled with insight, inspiration, and some rather questionable hats, thanks to one of our animated keynote speakers. Among the informative statistics, eye-opening case studies and weirdly wonderful anecdotes, there was a serious message around anti-money laundering and cartels behaviour, but ultimately the programme was aimed at inspiring everyone to be the best they can be.

Expertly hosted by BBC News and BBC World News Business Live’s host, Sally Bundock who controlled the smooth running of the day, she welcomed everyone on Valentine’s Day focussing their love affair with the housing market. With 450 delegates investing their time into hearing the key issues and challenges facing the industry and eager to learn from professionals who shared their top tips, expertise and valuable experience.

OnTheMarket Chief Executive, Ian Springett, shared his delight at being Platinum Sponsor, saying that it had taken some time to reach a position where the organisation was able to deliver that level of presence. He went on to share analysis of the portals, focusing on consumer experience now and in the future and the role of agents. He talked in detail about the impact of the key message that thousands of properties are listed with the portal prior 24-48 hours before they appear anywhere else. SDL Auction Partners were Gold sponsors supporting the day along with Silver sponsors Bosch and Gallagher as the Coffee Sponsor.

The theme – understand your business, your market and your staff

The programme started with a serious session on the dangers of cartels, and Clive Robins from the Competitions Market Authority gave a frank and concise account of cartel behaviour - price fixing, market share and exchanging commercially sensitive information, along with recent case studies and prosecutions. His message was be aware of risky situations, recognise key behaviours and beware of what people want you to share with them. If in doubt and if approached, seek legal advice.

Richard Riley, Director of Serious and Organised Crime within the Office for Security and Counter Terrorism at the Home Office stepped in at the late hour for Ben Wallace, Security Minister, who was called on to be no more than 7 minutes away from Parliament. Richard’s concise message was about organised financial crime having the potential to undermine the state and institutions, how the government is tackling it and the pressures the estate agency industry is now under, and ultimately protecting yourself from prosecution. With their Flag it Up campaign outlined, there followed a 10-minute question session from delegates. The key question that drew a considered pause was “Why do the agent and the conveyancer and the lender all have to do the checks? Surely once is enough”. Richard eventually settled on “The current regime clearly is not working, it is being looked at and that’s an area that needs to be reviewed”

Smart casual

Joe McEwan, former Head of Brand at Innocent whose combination of staggering success and modesty charmed the audience. His presentation included tips, anecdotes and examples of how Innocent grew their brand as well as their thought process. “If you’re 70% sure it will work, go for it”.

With a chance for all delegates to network and peruse the extensive exhibition, pick up some freebies whilst seeing how they can help your business, it was a hive of activity. Settling back down they were treated to an outstanding keynote from Nigel Risner on behaviour, how to know your team and your target audience - putting yourself in their shoes and understanding what they want to hear, not what you want to tell them. Hilarity ensued with thought-provoking ways to consider auto pilot behaviour and how people communicate.

When to submit a Suspicious Activity Report?

Jerry Walters was our next speaker assessing how the Fifth Money Laundering Directive will impact, when and how, bringing a serious topic to an audience who were still full of laughter, but without bringing doom and gloom. Jerry shared numerous eye-opening case studies, how people try to launder money, what signs to look for and what estate agents need to think about when submitting a Suspicious Activity Report - what to flag up and why.

Andrew McMillan, the man responsible for customer service and analysis of demographic trends at John Lewis, told the audience that while everyone knows that customer service is important, most businesses cannot sustain consistently high standards. He expanded on the ingredients that had allowed John Lewis to make it their USP.

Stay up to date or beware expiry

Closing off the conference, Mark Bentley, NAEA Propertymark President talked about how proud he is of the professionalism in the industry while Mark Hayward, Chief Executive outlined news on referral fees, how NAEA Propertymark has worked to persuade the Government of the need for transparency on fees rather than a ban and warned agents that every individual needs to work to demonstrate they are adhering to the guidance or beware the consequences.

A new pilot partnership with Relocation Agent Network was launched and agents were urged to ensure they check hourly, daily and weekly updates from NAEA Propertymark! The sector is changing and it’s vital to stay on top of anti-money laundering guidance, referral fees, transaction reform, consumer protection regulations, developments with mandatory qualification and everything else that is in the pipeline to ensure you don’t get left behind. Visit our website for full details and ensure you are reading our fortnightly newsletters and daily emails.

19 March 2019

The National Trading Standards Estate Agency Team (NTSEAT) has published guidance on referral fees received by estate agents across the UK, with the aim of making previously hidden fees open and transparent to consumers.
Read More...